First National Bank v. Homesley
Supreme Court of North Carolina
Surety and Principal — Indulging Judgment against Principal— Notice by Sureties to Oi'editor. Civil actioN, tried before MacRae, J, at Fall Term, 1887, of the Superior Court of MeckleNburg.
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Surety and Principal — Indulging Judgment against Principal— Notice by Sureties to Oi'editor. Civil actioN, tried before MacRae, J, at Fall Term, 1887, of the Superior Court of MeckleNburg. The First National Bank of Charlotte, organized and acting under the laws of the United States, at Fall Term, 1875, recovered judgment in the Superior Court of Mecklenburg against the defendants, for the sum of $2,638.60, on their promissory note in general terms, while, in fact, the defendant A. R. Homesley was a principal, and the others sureties to the debt. A transcript of the judgment was sent to…
1Opinion of the Court
Smith, C. J.,
(after stating the case). The only question before us, though other defences are set up in the answer, is as to the asserted equitable right to an abatement in the plaintiff’s demand to the extent claimed, in faver of the appellants.
It is a well settled rale in equity, aside from special legislation in this State for the protection of sureties, that while “ forbearance or delay in collecting from the principal debtor, furnishes no ground on which the surety can ask for exoneration,” yet “ if the creditor do any act for the ease of the principal, without the privity of the surety,…
2Cases cited1 opinion
- Thornton v. . Thornton and OthersSupreme Court of North Carolina · 1869
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